The company plans to cut back on thermal power and put renewable energy at the front and centre of its plans. Will the bet pay off?
Praveer Sinha, chief executive and managing director of Tata Power, has given one of India’s biggest power companies a makeover.
Ever since he took the reins in March 2018, the power generation arm of the Tata group has reorganized its thermal power business, is in the process of divesting dead investments and has been steadily reducing its debt.
Tata Power’s revenue has grown over 60% in the past four years to about Rs 44,000 crore in 2021-22. Its net debt-to-EBITDA ratio stood at 3.5 in the September quarter of the current fiscal year as against over 7 in 2017-18 (the …
Aakriti used to write at the intersection of public markets and large corporations. She joined The Morning Context from The Financial Express, where she was with the markets team, and before that had started out in business journalism as a correspondent with Reuters.
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aakriti@mailtmc.com
Delhi